Latest Bank Covenants News

Synlait Milk Limited has temporarily expanded its banking facilities by NZ$50 million to manage ongoing cost impacts from earlier manufacturing challenges, while preparing to reduce debt through a major asset sale.

Alliance Aviation Services has lowered its FY26 earnings guidance significantly below analyst expectations, citing increased depreciation, higher maintenance costs, and a contract dispute. Despite these challenges, the company maintains profitability and a strong balance sheet.

Comms Group Limited reported a steady 2% revenue increase in FY25, hitting the highest gross margin in five years, while targeting over $75 million in run-rate revenue post-TasmaNet integration.

AVADA Group Limited reported a significant net loss of $17.6 million for FY25, driven by major impairments in New Zealand and New South Wales operations amid challenging market conditions. The company completed a strategic consolidation of its Australian businesses and appointed new senior management to steer operational transformation.

Bapcor Limited reported a decline in FY25 pro-forma net profit after tax by 8.4%, alongside a successful $170 million debt refinancing extending maturities to 2029-2031. The company declared a fully franked final dividend and announced significant board and executive changes.

RPM Automotive Group Ltd reported steady FY25 results with improved margins despite a slight revenue dip, while outlining strategic growth and tyre recycling expansion plans for FY26.

Eagers Automotive has reported a robust first half of 2025, with revenue climbing nearly 19% and net profit rising 8.8%, while maintaining its interim dividend at 24 cents per share.

Aquirian Limited reported a 12.6% revenue increase to $26.07 million for FY25 but posted a $3.41 million statutory loss amid ramp-up costs and impairments. The company is advancing its Energetics and Technology divisions, including the Wubin Emulsion Facility and Collar Keeper® System.

ARN Media reports a 7% revenue decline in H1 2025 amid a strategic transformation, with digital audio growth offsetting radio setbacks and key divestments underway.

Apiam Animal Health reported modest revenue growth but a sharp net profit decline in FY25, launching a Strategic Reset program under new leadership. The company also received a $0.88 per share acquisition proposal from Adamantem Capital Management.

Close the Loop Limited reported a 7% decline in revenue to $195.1 million for FY25, alongside a significant net loss increase to $21.9 million, driven by operational challenges and one-off costs. The company is navigating leadership changes and portfolio adjustments while maintaining a focus on sustainability and circular economy growth.

Alfabs Australia Limited reported a robust 76% rise in net profit for FY2025, driven by strong mining contract deliveries and engineering demand, while boosting dividends and expanding operational capacity.